Source: Denim Social
Denim Social today announced it has completed a $5 million Series B round of financing with FINTOP Capital and partner, JAM FINTOP BankTech, an investment fund designed to help develop and accelerate technology adoption at community banks across the United States.
The funds will support product development and drive significant marketing and sales expansion for the St. Louis-based SaaS provider.
Denim Social empowers marketers in regulated industries to build stronger customer relationships on social media with tools that manage organic content and paid advertising on one platform. Built for compliance, Denim Social is trusted by more than 250 institutions in banking, mortgage, insurance and wealth management.
“Financial institutions are rapidly accelerating their digital strategies in today’s environment and Denim Social can help them humanize their brand on social media, while staying compliant,” said Douglas Wilber, CEO of Denim Social. “With increasing demand for our solution, FINTOP’s and JAM FINTOP’s partnership will help us grow to meet the needs of future clients.”
With the Series B investment round, Denim Social is valued at $30 million. The new funding builds on a $4 million Series A round completed in 2020, led by Hermann Companies. Since then, the company has expanded its product offerings to include social media content curation and Instagram management.
“Denim Social has a compelling vision for a more connected digital future for financial institutions,” said Jared Winegrad, managing director at FINTOP and a member of JAM FINTOP Banktech’s investment committee. “We’re proud to support their growth and expansion strategy.”
Accompanying the round, Winegrad will join the Denim Social Board of Directors. Denim Social is quickly growing its team and hiring for a variety of sales, marketing and product development roles -- both remote and based in St. Louis.